Last week Treasurer Don Polye announced a $5.9 billion budget for 2014, claiming it is a prudent budget in tough economic times.

But in the opposition's budget reply, Mr Namah said the budget was a deceitful one and warned the government against overspending.

"This is not a budget for the people of Papua New Guinea," he said.

"It is a deceitful and defective budget that is set to take all of us into future financial strife that none of those on the other side will be honest enough to take responsibility for - the likely misfortune that is about to come upon our people."

Mr Namah warns the economic problems of the early 2000s - when growth was slow and the local currency fell sharply - could be repeated.

"The 2014 budget is a contractors budget and not a peoples budget," he said.

"For prudent and transparent control, the actual expenditure, I guess the budget needs to be published and projects earmarked on this budget need to be independently audited.

"Only then, can we be comfortable that this parliament is promoting economic growth and development for our country.

The budget, handed down in parliament on November 19, forecasts a deficit of $920 million, representing a 20 per cent increase in debt.

Treasurer Don Polye says the economy is forecast to grow by 6.2 per cent next year, due largely to the start of liquefied natural gas production in PNG.

National Planning Minister Charles Abel says money will be spent wisely and goods and services will trickle down to the districts throughout the country.

"I don't see any issues around the deficit," he told parliament.

"Of course we have challenging times in front of us, because the world economy is struggling a bit.

"Some of our commodity prices are down. But we are forecasting that going into the future, that the commodity prices will recover."